Invesco sells 5.11% stake in Entertainment Enterprises for Rs 1,004 crore

Invesco affiliate firm OFI Global China Fund on Monday sold 5.11 per cent stake in Zee Entertainment Enterprises (Zee) to mop up Rs 1,004 crore. The US-based investment manager sold a total of 49.1 million shares at Rs 204.5 apiece.

Among the buyers were Segantii India and Morgan Stanley, block deal data released by BSE showed.

Shares of Zee fell 2.1 per cent on Tuesday to end at Rs 204.

Prior to the stake sale, Invesco held 5.65 per cent in Zee. With the latest stake sale, Invesco — which in the past had been at odds with Zee promoters over board composition and governance issues — has almost fully exited the domestic media major. Business Standard